Bitfury Group, a crypto mining firm based in the Netherlands but registered in the United Kingdom, seeks much higher stakes in crypto float. It is also reported that they have asked Deloitte to review their status before going public with the announcement.
The digital currency company with a value of $1bn also has big investors, including Mike Novogratz’s fund Galaxy Digital and Macquarie- Australian investment bank.
Recently, an American cryptocurrency trading app, Coinbase, gets floated with a value of $50bn. With Bitfury going float in the United Kingdom, it will become the biggest ever listing for a cryptocurrency.
They might float either on Euronext in Amsterdam or afloat in the city, given it has significant operations in Amsterdam and is legally based in the UK.
Cipher mining which was recently listed in the Nasdaq exchange and is valued at $2bn, has made a special offer acquisition deal with Bitfury this summer. Bitfury is already a minority shareholder in Cipher mining.
Bitfury provides hardware to mint bitcoins insignificant countries like Iceland, Norway, Canada, and Central Asia. Bitfury also offers mini data centers, shipping containers, etc., to the users to mine digital coins. When nations are dealing with a shortage of fossil fuels, data mining companies are emerging that require a lot of resources to manage digital mining, supercomputers, etc., with the requirement of enormous power.
Still, the cryptocurrencies stood at a price as high as $54,000 per coin. Despite a fall from $60,000 last fall, bitcoin has maintained its position.
Apart from Bitfury that provides users with bitcoin mining services in the UK, Argo Blockchain is also listed on the Aim exchange. Its shares have increased since its launch as users were looking for listed cryptocurrency companies.
No response over the market listing is yet obtained from Bitfury and Deloitte.
